Citigroup Earmarks $100B for Cleantech Over Next 10 Years
Describing the investment as “meant to help reduce the effects of climate change,” the bank said its cleantech financing efforts also will touch on new sectors such as sustainable transportation as well as projects involving clean water, waste management, and green housing.
Citigroup has been steadily ramping up its focus on environmental sustainability, with financing of related projects rising from $4.29 billion in 2008 to $8.78 billion in 2013, according to Citigroup’s global citizenship report.
Deutsche Bank to Purchase $1B in Green Bonds
Deutsche Bank AG’s green bonds investments are set to reach $1.1 billion, says Bloomberg.
It so far has invested $220 million in green bonds but plans a sharp increase to commence with purchases of a 10-year issue from the World Bank, according to the company.
“The decision adds to evidence that the green bond market is blooming after issuances of securities linked to climate projects more than doubled to a record $38.8 billion last year,” the article noted, quoting Alexander von zur Muehlen, the bank’s group treasurer, who said in a statement that these securities earn “attractive returns.”
Google Pumps $300M in Solar Fund, Marking Its Largest Such Investment Ever
Google’s focus on funding renewable energy projects continues, with the company reporting an investment of $300 million into a $750 million SolarCity fund focused on financing residential solar projects.
This is Google’s largest ever investment in renewable energy, according to a Washington Post article. It beats the size of an earlier investment the company made in the fund. In 2011, Google invested $280 million in the publicly-traded solar energy company.